Ted Baker (TED) appears to have been immune to the weather woes that have so afflicted the rest of the UK's high street clothing retailers. Group sales during the 13 weeks to 8 November rose 16 per cent, with a 13 per cent increase in retail sales. Meanwhile, average retail square footage rose 9.5 per cent as Ted continued to invest in new markets.
Stores opened in Las Vegas and Toronto, as Ted unveiled further concessions in Holland, France, Spain and South Korea, among others. It also launched in Latin America with its first licensed store in Panama. Online sales shot up 35 per cent, reflecting the successful migration of the US site to a new platform in July. Wholesale sales enjoyed a 25 per cent sales boost, with strong showings from the UK, US and Middle East. They're expected to end the year one fifth higher than last year, while second half gross margins will be down a touch because of sales mix.
